Merger efficiencies provide the primary justification for why mergers of competitors may benefit consumers … merger of Miller and Coors breweries was expected to increase concentration and reduce costs. All else equal, the average … predicted increase in concentration lead to price increases of two percent, but at the mean this was offset by a nearly equal …

would offset the incentive to increase price created by a merger. The formula depends only on pre-merger information on … slopes -- and thus allow calibration of parameterized demand and cost curves -- from pre-merger data. While the Cournot model … the assumption of interchangeability, in particular greater consistency with pre-merger data and greater scope for …